Cloud Security News: Week in Review is our blog series, grabbing the more interesting cloud security scoops from the web. Sit back, relax, and catch up on all you should know about this week.
Are you new to the UK or do you have friends who recently moved there? If so, you should definitely read about the newly discovered phishing scam that tricks victims by pretending to be a British charity. On the other side of the pond, Los Angeles Valley College was also targeted by cybercriminals. This time, a ransomware hit the college at the perfectly unfortunate time, right before the start of the new semester. While cybercriminal activity continues to increase, a recent IBM study shares that the average cost of a data breach is also creeping up. Read below for more details.
By Danny Palmer (@dannyjpalmer)
There’s a new malware in the UK that’s infecting victims via phishing emails posing as the British charity, “Migrant Help.” The subject of the email thanks the person for donating to Migrant Help, then inside is a fake receipt showing the person’s full name and their real phone number, making it seem legitimate. There’s also a link that the recipients are prompted to click on to learn more, which leads to a Word doc that starts downloading the Ramnit payload onto their computer.
By Waqas Amir (@Writerblues)
Most of the time the FBI and cybersecurity experts urge ransomware victims not to pay up. The computer systems of Los Angeles Valley College (LAVC) were infected by a ransomware that demanded $28,000 worth of Bitcoin in exchange for the decryption key. After six days of attempting to find a solution themselves, LAVC finally decided to pay the cybercriminals, contrary to common guidance. The attackers did pass over the key and peace was restored.
By Ryan Francis (@ryan4francis)
According to the 2016 Ponemon Cost of Data Breach Study conducted by IBM, “the average cost of a data breach has hit $4 million – up from $3.8 million in 2015.” Calculating the exact predicted cost is tougher than it seems. This report breaks down the contributing factors – ranging from type of currency, industry, type of data, the root cause of the breach, and more – to help you get a better idea of what it would be like for your own organization.